To Refinance or Not To Refinance (Part 1)

That is the question. Whether ’tis nobler to suffer the slings and arrows of higher monthly interest payments, or to take arms against the current mortgage, and by refinancing, to end it. Interest rates are back down to historic low levels. The chart at left is from Bankrate.com and shows the average interest rate for 30-year fixed mortgages in Connecticut over the past 5 years. Large mortgage rate drops historically lead to a boom in